The Boston Herald isn’t alone in selling off its old print and newsroom facilities and moving into leased spaces elsewhere, as the newspaper industry continues it long decline. Other newspapers across the country are also starting to sell their real estate, as they try to extract as much value as possible out of their assets.
As for the Herald, here’s how the Bloomberg story put it:
In Massachusetts, builder National Development plans to early this year begin the redevelopment of the former home of the Boston Herald, razing the old building and constructing a mixed-use property with 85,000 square feet of retail space and 475 residential units, according to Theodore Tye, a managing partner at the Newton Lower Falls, Massachusetts-based company.
“This is a very unique opportunity to build an iconic project in a very high-density area in Boston,” Tye said in a telephone interview. “There aren’t too many six-acre sites available in prime downtown locations.”
The Herald is now leasing a smaller office building in the city’s Seaport District “simply because we did not need all the space,” Gwen Gage, a spokeswoman, said in an e-mail.
Though it’s not downtown, we can think of another perhaps soon-to-be-available multi-acre site opening up along Morrissey Boulevard in Dorchester — and with easy access to the Southeast Expressway and Red Line, too. Not that we want it to come to that. The Globe’s a great newspaper.
File under: Hold the presses!